T-Mobile Deutsche Telekom will start mining Bitcoin. That might come as a surprise, but not a to those who have been following crypto news lately. German telecom giant is going crypto since last year.
Company's expansion into crypto-based activities began with Polygon validation. Now the company wants to enter the big game. Deutsche Telekom is about to enter the mining business.
Since Ethereum's switch from Proof-of-Work to Proof-of-Stake in 2022 the only big mining business is the one with Bitcoin involved.
The German telecommunications firm has been operating a Bitcoin node since 2023. This year the company launched its own Bitcoin Lightning Network nodes. And now the bigger anouncement was unveiled.
Speaking at BTC Prague, Dirk Röder, head of Web3 infrastructure and solutions at Deutsche Telekom, confirmed that the communications giant will start mining Bitcoin. Röder actually jokingly called mining a 'digital monetary photosynthesis'. And that' is so charming.
Market's reaction seem very positive.
According to a famous analyst BTCGandalf, Deutsche Telekom's decision to enter Bitcoin mining is staggering. 'What a time to be alive,' he wrote on X.
Deutsche Telekom is one of the world's leading integrated telecommunications companies. Established in 1995, the company provides a wide range of services. Those include fixed-network and mobile communications, internet, and IPTV products and services for consumers.
Company has a significant presence in Europe and the United States. It's know for its innovations, but was silent about its crypto ambitions before 2023.